A signing ceremony will be held on June 19 in Switzerland.
A peace deal between the United States and Iran has been reached, U.S. President Donald Trump said on June 14.
“The Deal with the Islamic Republic of Iran is now complete,” Trump wrote in a Truth Social post.
“Congratulations to all! I hereby fully authorize the toll free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade.
“Ships of the World, start your engines. Let the oil flow!”
The deal was first announced by Pakistani Prime Minister Shehbaz Sharif.
“Both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon,” Sharif wrote on X moments before Trump confirmed the plan.
Sharif said a signing ceremony will be held on June 19 in Switzerland.
The peace agreement follows a Pakistan-brokered ceasefire that began on April 8 and was extended indefinitely by Trump later that month.
Trump said on June 13 that once the peace deal is signed, the Strait of Hormuz will immediately be “open to all.”
The Iran war and subsequent standoff between the United States and Iran have affected the price of oil, cutting off most of the commercial traffic through the Strait of Hormuz, one of the world’s most important transit points for oil and natural gas.
Crude oil prices were at $56.80 per barrel on Dec. 19, 2025, but shot up to $114.01 per barrel by April 6, according to the U.S. Energy Information Administration.
In late April, hundreds of vessels were sitting idle in the Persian Gulf.
Iran had also repeatedly harassed shipping vessels traveling through the Strait of Hormuz. The U.S. military said on June 13 that it shot down several Iranian attack drones that were targeting commercial ships sailing through the waterway.
Trump said on June 13 on Truth Social that the agreement would stop Iran from having a nuclear weapon, which Trump has maintained was a key to any peace agreement.
“In fact, they no longer want a Nuclear Weapon, nor will they have one, either through purchase, development, or any other form of procurement,” Trump wrote on June 13.
Trump criticized an Israeli strike on Beirut, Lebanon, on June 14, saying it should not have occurred as negotiators neared the peace agreement with Iran.
Trump said Israel has a right to defend itself but described the attack that prompted the response as minor, noting that no one was killed or injured. He warned that further military action could jeopardize efforts to secure a broader peace deal.
Trump called on all sides to exercise restraint, urging Israel to halt attacks in Lebanon and urging Hezbollah to stop launching attacks against Israel. He said the region is close to achieving a potentially historic peace agreement.
He wrote, “This could be the beginning of a long and beautiful peace — Let’s not blow it!”
Jacki Thrapp contributed to this report.
By Tom Gantert
